Affiliated entity of PennyMac (PFSI) CEO sells 10,000 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

PennyMac Financial Services Chairman & CEO David Spector reported automatic insider sales by an affiliated entity. On May 12, 2026, ST Family Investment Company LLC, an entity associated with him, sold a total of 10,000 shares of PennyMac common stock in open-market transactions at weighted average prices around the high-$80s per share under a Rule 10b5-1 trading plan adopted on August 8, 2025. Following these sales, the LLC held 67,832 shares indirectly, while Spector held 504,401 shares directly, consisting of 466,560 common shares and 37,841 restricted stock units that will settle in stock upon vesting.

Insider Trade Summary 10b5-1

Net Seller: 10,000 shares ($879,858)

Net Sell 4 txns

Insider SPECTOR DAVID

Role Chairman & CEO

Sold 10,000 shs ($880K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,772	$86.88	$241K
Sale	Common Stock	3,144	$88.02	$277K
Sale	Common Stock	4,084	$88.71	$362K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 67,832 shares (Indirect, ST Family Investment Company LLC); Common Stock — 504,401 shares (Direct, null)

Footnotes (1)

The sales reported in the Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 8, 2025. The price reported is the weighted average price of multiple transactions ranging from $86.40 to $87.375. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected. The price reported is the weighted average price of multiple transactions ranging from $87.41 to $88.40. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected. The price reported is the weighted average price of multiple transactions ranging from $88.47 to $88.93. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected. The reported amount consists of 37,841 restricted stock units and 466,560 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Key Figures

Shares sold: 10,000 shares Sale price block 1: $88.71 per share Sale price block 2: $88.02 per share +5 more

8 metrics

Shares sold 10,000 shares Total common shares sold on May 12, 2026 by ST Family Investment Company LLC

Sale price block 1 $88.71 per share Weighted average price for one sale block of common stock

Sale price block 2 $88.02 per share Weighted average price for another sale block of common stock

Sale price block 3 $86.88 per share Weighted average price for remaining sale block of common stock

Direct holdings after trades 504,401 shares Direct PennyMac holdings reported for David Spector after transactions

Indirect holdings after trades 67,832 shares PennyMac shares held by ST Family Investment Company LLC after sales

Restricted stock units 37,841 units RSUs included within Spector’s direct 504,401-share position, settling in stock upon vesting

Common shares in direct position 466,560 shares Common stock portion of Spector’s 504,401 direct shares after transactions

Key Terms

Rule 10b5-1 trading plan, restricted stock units, weighted average price, open-market sale

4 terms

Rule 10b5-1 trading plan financial

"The sales reported in the Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 8, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"The reported amount consists of 37,841 restricted stock units and 466,560 shares of Common Stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

weighted average price financial

"The price reported is the weighted average price of multiple transactions ranging from $86.40 to $87.375."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action: open-market sale of Common Stock by ST Family Investment Company LLC."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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Form 4 Insider Transactions: What Each Field Means →

05/13/2026 - 05:14 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SPECTOR DAVID

(Last)

(First)

(Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC.

3043 TOWNSGATE ROAD

(Street)

WESTLAKE VILLAGE

CALIFORNIA

91361

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PennyMac Financial Services, Inc. [ PFSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/12/2026		S		2,772⁽¹⁾	D	$86.88⁽²⁾	67,832	I	ST Family Investment Company LLC
Common Stock	05/12/2026		S		3,144⁽¹⁾	D	$88.02⁽³⁾	64,688	I	ST Family Investment Company LLC
Common Stock	05/12/2026		S		4,084⁽¹⁾	D	$88.71⁽⁴⁾	60,604	I	ST Family Investment Company LLC
Common Stock								504,401⁽⁵⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sales reported in the Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 8, 2025.

2. The price reported is the weighted average price of multiple transactions ranging from $86.40 to $87.375. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

3. The price reported is the weighted average price of multiple transactions ranging from $87.41 to $88.40. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

4. The price reported is the weighted average price of multiple transactions ranging from $88.47 to $88.93. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

5. The reported amount consists of 37,841 restricted stock units and 466,560 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

	/s/ Derek W. Stark, attorney-in-fact for Mr. Spector	05/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did PennyMac (PFSI) Chairman & CEO David Spector report?

David Spector reported automatic open-market sales totaling 10,000 PennyMac shares by ST Family Investment Company LLC. These trades occurred on May 12, 2026 under a pre-established Rule 10b5-1 trading plan, meaning they were scheduled in advance rather than timed discretionarily.

How many PennyMac (PFSI) shares were sold in the latest Form 4 filing?

The filing shows 10,000 PennyMac common shares sold through three open-market transactions. Reported weighted average sale prices were approximately $86.88, $88.02 and $88.71 per share, reflecting multiple trades within specified intraday price ranges for each transaction block.

Who actually sold the PennyMac (PFSI) shares in David Spector’s Form 4?

The sales were made by ST Family Investment Company LLC, an entity associated with David Spector, not directly from his personal account. The Form 4 classifies these holdings as indirect, with the LLC holding PennyMac common stock on behalf of related interests.

Was the PennyMac (PFSI) insider sale made under a Rule 10b5-1 plan?

Yes. The Form 4 states the sales occurred automatically under a Rule 10b5-1 trading plan adopted on August 8, 2025. Such plans pre-schedule trades, reducing the significance of trade timing as an indicator of the insider’s short-term market view.

What are David Spector’s remaining direct and indirect PennyMac (PFSI) holdings?

After the reported trades, David Spector directly held 504,401 shares, including 466,560 common shares and 37,841 restricted stock units. Indirectly, ST Family Investment Company LLC held 67,832 additional common shares, as reflected in the post-transaction balances disclosed in the Form 4.

What do the restricted stock units in the PennyMac (PFSI) Form 4 represent?

The 37,841 restricted stock units represent share-based compensation that will settle in an equal number of PennyMac common shares upon vesting. They are included within Spector’s reported 504,401 direct shares, highlighting a mix of fully owned stock and unvested equity awards.